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Try working in a small firm and try to understand how things are done practically. Normally theory is different from practice. When you gain some experience you would be able to understand the real standing of the company from the Balance Sheet. You should be able to make the balance sheet balance. Even in this electronic age the main test of the accountant is to balance the balance sheet. You should understand the deference between capital and revenue receipts and expenses. One piece of advice brother never balance capital receipts with revenue expenses. If you do the capital will get depleted and the company will vanish very soon.